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Bitcoin and Ethereum Price Forecast – BTC Prices Stable

The market has once again gone to slumber as the BTC prices try to recover from its fall over the last couple of days
Colin First
Bitcoin Wednesday
Bitcoin Wednesday

Yet another day has passed and there is nothing much happening in the crypto markets yet again. The range traders and the day traders continue to rule the markets as the long term investors continue to watch from the sidelines and hope for the best. It is clear that the larger players are probably long in this market but they need to have an extremely high level of patience as they wait for the market to make the next move. For now, they have to be content with some statements and development over at the major exchanges as they begin to consolidate their position at the top of the tree and the exchanges also get ready for the next wave that the crypto market is likely to bring on over the next few months.

BTC Market Tries to Recover

Last week, we saw the Bitmex CEO talk down the ETH coin while there continues to be developments with the larger exchanges looking to hire major guys from the other established stock and FX exchanges to bolster themselves in terms of infrastructure and knowledge as they begin to mature more and more and begin to think of offering other products as well. The exchanges had begun in the hope of making use of the BTC fad that existed some years ago but now that it seems that the crypto market is here to stay, they want to get better at what they are doing, which is a good sign in the long run.

Bitcoin 4H

The ETH prices gained during the course of the last 24 hours as the market shrugged off some adverse comments from the Bitmex CEO and chose to focus on the fundamentals and the current developments that are happening in the network and this has helped the prices to recover, atleast for the time being.

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Forecast

Looking ahead to the rest of the day, as is usual, expect some more of the same that we have been seeing all the last few weeks. We do not expect anything special to happen today and we can expect more of the ranging and consolidation.

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